Six Unit Multifamily in Downtown Augusta
227 & 231 Telfair St
Augusta, GA 30901
Highlights
- $484,975 Price
- $37,343 Pro Forma NOI | 7.54% Pro Forma Cap Rate
- Potential to build 4 more units
- Below Market Rents ┃Value Add Potential
- 2 Single Family | 2 Duplexes on Two Parcels
- Property 3D Tours:
- 227 Telfair St 3D Tour: https://my.matterport.com/show/?m=gMykvkkxnZx
- 231 Telfair St 3D Tour: https://my.matterport.com/show/?m=pzr7ttt2iFn
- 227 1/2 Unit A Telfair St 3D Tour: https://my.matterport.com/show/?m=8SPo4CJmBhB
Description
The Finem Group at Meybohm Commercial is proud to exclusively present this multi-family value-added opportunity.
The subject property is made up of 2 houses and 2 duplexes for a total of 6 existing units. All 6 units are occupied. The property sits on over .41 acres of land with previous plans to develop 2 more duplexes (4 more units) for a total potential of 10 units after development. The property is currently zoned R-3 (Residential lots) which allows for multi-family.
The existing units are all in decent condition; one house is 3 bedroom/1 bathroom, one house is 2/1 and the four duplexes are all 1/1. The rent for the units currently ranges from $750 - $1050. In the last two years the roofs on three of the units have been replaced along with the fourth roof being replaced in January of 2024.
Coupled together, the potential for increased rents and the development potential of the four extra units make for an excellent value-added opportunity. In total, the property allows for in-place cash flow to help supplement the construction costs of building the additional units.
The property is in the heart of Downtown Augusta, GA. Only a few minutes from the Convention Center and major businesses, this property is well situated with neighboring businesses like TaxSlayer, the Georgia Cyber Center, The Riverfront Building, Unisys, and Powerserve, and is located in Augusta's Tech Corridor. The property is surrounded by dining, shopping, and entertainment options and is within walking distance of the Marriott Hotel at the Riverwalk on the Savannah River or check out the Hyatt House, downtown's newest hotel just two blocks from Lafayette Square.
The Augusta National Golf Course is a few miles away, or take a trip over the Savannah River to downtown North Augusta, across the 13th Street bridge, to the new SRP Park. It will take about 24 minutes to get to Gate 1 at Fort Gordon.
The property is in the heart of Downtown Augusta, GA. Only a few minutes from the Convention Center and major businesses, this property is well situated with neighboring businesses like TaxSlayer, the Georgia Cyber Center, The Riverfront Building, Unisys, and Powerserve, and is located in Augusta's Tech Corridor. The property is surrounded by dining, shopping, and entertainment options and is within walking distance of the Marriott Hotel at the Riverwalk on the Savannah River or check out the Hyatt House, downtown's newest hotel just two blocks from Lafayette Square.
The Augusta National Golf Course is a few miles away, or take a trip over the Savannah River to downtown North Augusta, across the 13th Street bridge, to the new SRP Park. It will take about 24 minutes to get to Gate 1 at Fort Gordon
